BoE and ECB in focus

Frank Walbaum

Important news for the day

Thu, 05th, 13:00 CET UK BoE interest rate decision.
Thu, 05th, 14:15 CET EU ECB interest rate decision.
Thu, 05th, 14:45 CET EU ECB press conference.
Thu, 05th, 16:00 CET US JOLTS job openings.

Rate decisions

Today’s rate decisions might move markets. The Bank of England is not expected to adjust rates today. Traders believe that the rate will remain unchanged at 3.75%. Yet, number of committee members opting for a rate cut might offer further insights into the Central Bank’s decision making process. Since the last meeting the expectentancy of further rate cuts keeps falling and despite the current weakening of the labour market no change might not give the Pound much upside momentum. Furthermore, also the European Central Bank is not expected to cut rates. With rates remaining steady at 2.15% the focus might also remain on the press conference and Christine Lagarde’s words.

Market talk

The Dollar remains in a sideways pattern so far this week and has not been moving much against other currencies. The DXY is pointing to some potential upside of the Greenback, which might influence also other markets. While the price of gold remains positive Silver keeps fighting with its recent uptrend. The current demand seems limited and some economic headwinds might also harm prices from rising further. On the other hand oil prices keep pushing higher. A potential break higher above the USD 66.50 level might be on the cards these days.

Tendencies in the markets

Equities sideways, USD stronger, crypto weaker, oil positive, Silver sideways, Gold positive.

Author

Frank Walbaum

GBP/USD stays weak below 1.3600 as USD bulls await Warsh's speech

GBP/USD is consolidating near the lower end of its weekly range, below the 1.3600 mark, during European trading hours on Thursday. The pair's downside, however, remains cushioned as traders await Fed Chair Warsh's speech on Friday for more cues about the US central bank's interest rate path before placing fresh directional bets.

EUR/USD holds range around 1.1650 as USD steadies

EUR/USD keeps its range around 1.1650 in the European session on Thursday. Hawkish ECB expectations support the pair as the US Dollar consolidates after the US PCE data-driven advance. The focus remains on Middle East developments and US Jobless Claims data.

Gold holds steady around $4,600 as traders eye Fed's Warsh for rate cues

Gold languishes near the $4,600 mark through the first half of the European session on Thursday and remains close to the weekly low it touched the previous day. The downside, however, seems limited as traders opt to wait for US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday for cues on the future policy path. The outlook, in turn, will play a key role in influencing the US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

Ripple eases to $1.40, Solana hits $100, DOGE capped below $0.10

Ripple (XRP) and Dogecoin (DOGE) are facing downside pressure after double-digit gains last week, while Solana (SOL) extends its rally to $100. The technical outlook for XRP, SOL, and DOGE points to potential upside as the broader market sustains a risk-on sentiment.

Jackson Hole kicks off after upside PCE surprise

In China, industrial profits rose 17.6% y/y to CNY 4.58tn in the first seven months of 2026, slowing from an 18.7% increase in January-June. The moderation follows several months of strong profit growth around 20% y/y, supported by higher producer prices and solid manufacturing activity.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.